What Is an Out-Of-Pocket Maximum?
With any health insurance plan, you’ll be responsible for paying a percentage of your health care costs. But your health plan will also put a cap on the total amount you have to pay. This is called an “out-of-pocket maximum.”
Compare Health Insurance Quotes Today!
For example, it’s common to have a 20% copayment for hospital care. A quick visit might cost $100 — and that means you’re only paying $20. But what if you needed serious care and your hospital bill came to $100,000 dollars? Now you’re looking at $20,000… and that’s a lot of money for most people.
Fortunately, your out-of-pocket maximum — or OOP — will keep you from having to fork over that much money to the hospital. Most health plans set your OOP at a few thousand dollars. So instead of owing $20,000, you might owe just $2,000. Your health plan’s out-of-pocket maximum can mean the difference between affording medical care and having a lifetime of debt.
If you’re ready to explore your health plan options, or want to apply for coverage today — use one of our tools at Go Health Insurance.
Our Instant Quote service lets you view plans online and the Plan Finder matches you with options to fit your budget. You can also talk to an agent right now with our Click-To-Call service, or compare competitive quotes from multiple agents.
Best of all? The insurance finding tools at GoHealthInsurance.com are no risk, no obligation, and absolutely free.